Lucid Group Beneish M-Score Historical Data
The historical data trend for Lucid Group's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Lucid Group Beneish M-Score Chart
|
Lucid Group Annual Data
|
|
Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
- |
24.06 |
-1.22 |
|
Lucid Group Quarterly Data
|
|
Dec19 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
9.37 |
3.28 |
1.70 |
-1.22 |
47.30 |
Competitive Comparison of Lucid Group's Beneish M-Score
For the Auto Manufacturers subindustry, Lucid Group's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Lucid Group's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Lucid Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Lucid Group's Beneish M-Score falls into.
Lucid Group Beneish M-Score Calculation
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Lucid Group for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 56.9412 | + | 0.528 * 0.8648 | + | 0.404 * 1.1786 | + | 0.892 * 0.8499 | + | 0.115 * 1.0081 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.4022 | + | 4.679 * -0.074683 | - | 0.327 * 0.8218 |
| = | 48.49 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
| This Year (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was €116.8 Mil.
Revenue was 158.921 + 144.107 + 129.132 + 139.257 = €571.4 Mil.
Gross Profit was -213.492 + -231.876 + -310.998 + -373.751 = €-1,130.1 Mil.
Total Current Assets was €4,447.3 Mil.
Total Assets was €8,185.3 Mil.
Property, Plant and Equipment(Net PPE) was €2,934.2 Mil.
Depreciation, Depletion and Amortization(DDA) was €233.3 Mil.
Selling, General, & Admin. Expense(SGA) was €777.5 Mil.
Total Current Liabilities was €953.8 Mil.
Long-Term Debt & Capital Lease Obligation was €2,128.1 Mil.
Net Income was -626.39 + -599.503 + -591.148 + -705.386 = €-2,522.4 Mil.
Non Operating Income was 5.625 + 29.538 + 55.316 + 36.618 = €127.1 Mil.
Cash Flow from Operations was -475.405 + -435.161 + -481.226 + -646.43 = €-2,038.2 Mil.
|
Total Receivables was €2.4 Mil.
Revenue was 139.569 + 243.281 + 197.412 + 92.08 = €672.3 Mil.
Gross Profit was -327.92 + -337.554 + -299.996 + -184.476 = €-1,149.9 Mil.
Total Current Assets was €3,847.9 Mil.
Total Assets was €6,781.7 Mil.
Property, Plant and Equipment(Net PPE) was €2,368.7 Mil.
Depreciation, Depletion and Amortization(DDA) was €190.0 Mil.
Selling, General, & Admin. Expense(SGA) was €652.4 Mil.
Total Current Liabilities was €948.0 Mil.
Long-Term Debt & Capital Lease Obligation was €2,159.0 Mil.
|
1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
| DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
| = | (116.776 / 571.417) | / | (2.413 / 672.342) |
| = | 0.204362 | / | 0.003589 |
| | = | 56.9412 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
| GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
| = | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) |
| = | (-1149.946 / 672.342) | / | (-1130.117 / 571.417) |
| = | -1.710359 | / | -1.977745 |
| | = | 0.8648 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
| AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
| = | (1 - (4447.277 + 2934.156) / 8185.278) | / | (1 - (3847.923 + 2368.696) / 6781.71) |
| = | 0.098206 | / | 0.083326 |
| | = | 1.1786 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
| SGI | = | Sales_t | / | Sales_t-1 |
| = | Revenue_t | / | Revenue_t-1 |
| = | 571.417 | / | 672.342 |
| | = | 0.8499 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
| DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
| = | (190.012 / (190.012 + 2368.696)) | / | (233.327 / (233.327 + 2934.156)) |
| = | 0.074261 | / | 0.073663 |
| | = | 1.0081 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
| SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
| = | (777.455 / 571.417) | / | (652.398 / 672.342) |
| = | 1.360574 | / | 0.970337 |
| | = | 1.4022 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
| LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
| = | ((2128.088 + 953.781) / 8185.278) | / | ((2158.984 + 947.973) / 6781.71) |
| = | 0.376514 | / | 0.458138 |
| | = | 0.8218 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
| TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (-2522.427 - 127.097 | - | -2038.222) | / | 8185.278 |
| | = | -0.074683 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Lucid Group has a M-score of 48.49 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
FRA:CH2A has been successfully added to your